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Under Armour 4th-quarter net income jumps

January 30, 2014

BALTIMORE (AP) Athletic gear maker Under Armour Inc. said Thursday its fourth-quarter net income rose 28 percent, boosted by strong sales of its running shoes, fleece and other winter wear products. Results handily topped expectations, and shares skyrocketed to an all-time high. Under Armour's athletic gear has been gaining in popularity, and the company recently purchased MapMyFitness, an online company that helps people keep track of their workouts, to expand in the growing digital fitness arena. CEO Kevin Plank called 2013 a "banner year" for the Baltimore -based company. Net income for the three months ended Dec. 31 rose to $64.2 million , or 59 cents per share. That compares with net income of $50.1 million , or 47 cents per share, a year earlier. Analysts expected 53 cents per share, according to FactSet. Revenue rose 35 percent to $682.8 million from $505.9 million . Analysts expected revenue of $620.2 million . Under Armour said it expects revenue of $2.84 billion to $2.87 billion in the coming year. Analysts expect revenue of $2.77 billion . For 2013, net income rose 26 percent to $162.3 million , or $1.50 per share, from $128.8 million , or $1.21 per share. Revenue rose 27 percent to $2.33 billion from $1.83 billion in 2012. Shares of Under Armour rose $19.19 , or 23 percent, to $104.41 in midday trading, after earlier reaching an all-time high of $106.65 .

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Source: Associated Press

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